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HomeMy WebLinkAbout87-051 _ • ~ ~ ~ ~ Q • CITY OF LAHEVILLE, MINNESOTA RESOLUTION NO. $~-51 RESOLUTION APPROVING A TAX INCREMENT FINANCING PLAN ESTABLISHING TAX INCREMENT FINANCING DISTRICT NO. 3 LOCATED WITHIN REDEVELOPMENT PROJECT NO. 1 WHEREAS, the City of Lakeville (the "City") by Resolution No. 80-135 adopted on November 17, 1980, and The Housing and Redevelopment Authority in and for the City of Lakeville, Minnesota (the "Authority") by Resolution No. 80-9 adopted on November 3, 1980, pursuant to the Municipal Housing and Redevelopment Act, have established Redevelopment Project No. 1 (the "Project") originally referred to as the Redevelopment Plan for Lakeville Redevelopment District No. 1; and WHEREAS, the Authority has by Resolution _No. adopted on May 4, 1987 adopted a Tax Increment Financing Plan (the "Plan") establishing Tax Increment Financing District No. 3 (the "District") within the Project, pursuant to Minnesota Statutes, Section 273.74, Subd. 1 and has submitted the Plan to the City for consideration; and WHEREAS, the City Council of the City. (the "Council") on the date hereof • held a public hearing .regarding adoption of the Plan and establishment of the District, for which hearing notice was published in a newspaper of general circulation in the City not less than 10 or more. than 30 days prior to the date hereof; and WHEREAS, the Authority has provided an opportunity for the members of the .County Board of Commissioners of Dakota County and the members of the school boards of all school districts in which any portion of the District is located to meet with the Authority; and WHEREAS, the Authority has presented to the members of the County Board of Commissioners of Dakota County and the members of the school boards of all school districts in which any part of the District is located the Authority's estimate of the fiscal and economic implications of the. establishment of the District and the members of the County Board and such school boards were granted the opportunity to present their comments at the public hearing held on the date hereof; and WHEREAS, the Authority and the City have performed all actions required by law to be performed prior to the establishment of the District and the approval .and adoption of the Plan; NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF LAKEVILLE, MINNESOTA,. as follows: 1. On the basis of the information presented to the Council at meetings • regarding establishment of the Plan, information included in the Plan, information provided at the public hearing and at other Council meetings regarding the Project and the Plan, the Council hereby finds and determines: 1 • (a) that the adoption of the Plan and. the establishment of the District are in the public interest and to the benefit of the health, safety and welfare of the City; - (b) that the District is a redevelopment district as defined in Minnesota Statutes, Section 273.73, Subd. 10. It has been determined that 12 of the parcels in the district (75 percent) are occupied by buildings, streets, utilities or other improvements and more than 50 percent of the buildings, not including outbuildings, are structurally substandard to a degree requiring substantial renovation or clearance. The 9 structures on the 12 parcels of land constituting the "redevelopment district have been investigated by consultants. More than 5 of the 9 buildings are deteriorated and structurally substandard to a degree requiring clearance. Thus, the tax increment financing district appears to meet the statutory requirements of a redevelopment district and will henceforth be referred to as a tax increment financing redevelopment district. The parcels that have been used to establish eligibility as a redevelopment tax increment financing district are listed on page 4 of the respective Tax Increment Financing Plan. The establishment of the District will result in the new construction of an elderly housing project and a commercial office medical building project which requires certain necessary land acquisitions and assembly and certain public improvements; (e) that the development proposed to be assisted as described in the Plan would not, in the opinion of the Authority, reasonably be expected • to occur within the reasonably foreseeable future through private investment, and that therefore the use of tax increment financing is deemed necessary; (d) that the Plan conforms to the general plan for the development of the City as a whole; (e) that the Plan will afford maximum opportunity, consistent with the sound needs of the City as a whole for the development of the Project by private enterprise. The reasons and supporting facts for each of the findings set forth above have been set forth in writing in the Plan. 2. The Plan which establishes the District is hereby approved and adopted by the City in substantially the form on file with the City on this date. 3. The City Administrator is authorized and directed to take all action on behalf. of the City, subject to such approval of this Council as is required by law, to implement the Project and the Plan. • 2 4. The Authority is authorized and directed to take all actions necessary to implement and carry out the Projeet and the Plan. Adopted this 4th day of May , 1 7. Yr AT S C erk-A in st ator (SEAL) • • 3